Integra LifeSciences price target raised to $32 from $25 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Integra LifeSciences to $32 from $25 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in the MedTech sector. Across the market cap, there continues to be crowding in the strongest growth stories with a widening performance and valuation gap between “haves” and “have nots”, but while this could create some profit-taking, dips in these names will get bought if fundamentals are moving in the right direction, the analyst tells investors in a research note. For Integra, its current valuation discount relative to the peer group is justifiable given the accumulating execution errors on the part of the company as well as peers’ faster revenue and earnings growth prospects, and the multiple expansion from current levels could be limited over the near-to-intermediate term, the firm added.